By IANS
New Delhi : Aiming to offering social security to the weaker sections of society, the cabinet Thursday approved the launch of an insurance scheme for rural landless households, with the central and state governments equally sharing the cost.
“The cabinet approved the launching of the Aam Aadmi Bima Yojana on Oct 2 (the birth anniversary of Mahatma Gandhi),” Information and Broadcasting Minister Priya Ranjan Dasmunsi told reporters after a cabinet meeting presided over by Prime Minister Manmohan Singh.
“The scheme provides for insurance for the head of the family or an earning member of the family of rural landless households between the age of 18 and 59 years against natural death as well as accidental death, and partial or permanent disability,” the minister added.
“The annual premium payable per member is Rs.200 per month, 50 percent of which will be paid by the central government and 50 percent by the concerned state government.
“In the case of natural death, the survivors would get Rs.30,000. For accidental deaths, the insurance amount would go up to Rs.75,000. For total permanent disability the amount will also be Rs.75,000. For partial disability like loss of one limb, it will be Rs.37,500,” Dasmunsi said.
“Besides, two children in the family will get a scholarship of Rs.300 per quarter per child each from class 9 to class 12.
“The cabinet has authorised the creation of a fund of Rs.1,000 crore (Rs.10 billion) with the Life Insurance Corporation of India (LIC) for meeting the liability of the central government,” he said.